Portugal Telecom, mPowa Sign Mobile Money Partnership

mPowa

VENTURES AFRICA – Mobile payment firm Powa and Portugal’s largest telecom service provider Portugal Telecom Group, have established a partnership to bring mobile payment services to the small businesses thus enlarging the existing payments market in Portugal.

The breakthrough agreement, the first of its kind in Europe, will see Portugal Telecom employing the white label service offered by mPowa. The all-platform mobile payment deal also anticipates deals in other markets around the world, mainly Brazil and Africa, where Portugal Telecom is present.

Dan Wagner, Chairman and CEO of mPowa, said, “This deal further validates Powa’s strategy of white-labelling its mobile technology to banks and telcos. With smartphone ownership increasing in Portugal, particularly among businesses, it was important for us to work with the market leader and most innovative operator in Portugal to provide added value and help thousands of business users to leverage the multiple channels to generate sales on their mobile devices. Powa offers our partners a simple, robust and ubiquitous commerce infrastructure which is fully flexible and customisable, and with which they can start tapping into growing areas of new business.”

Portugal Telecom is a global telecommunications operator with 100 million clients worldwide. In Portugal, where it holds a leading position in the markets in which operates, PT provides a wide portfolio of telecoms, multimedia and IT and fixed and mobile convergent services, including broadband access, voice and television, acting in all segments of the telecommunications sector: personal, residential, enterprise solutions and wholesale. Portugal Telecom assumes itself as the leading Portuguese telecoms operator with a wide and solid international presence, particularly in Brazil and Africa. PT has a diversified business portfolio in which quality and innovation are key aspects, aiming at positioning PT as a leading edge operator in the international arena.

Portugal Telecom is listed on the Euronext and New York Stock Exchange, through a full listing of its ADR program, and is present in the reference Portuguese index and in the benchmark sustainability indexes, Dow Jones Sustainability and FTSE4GOOD.